Wednesday 03 June 2009 Euro unemployment at decade high
Unemployment in the 16 countries using the euro increased in April to its highest level in nearly ten years, official data shows.
Prices in the eurozone stopped rising in May - with the annual inflation rate at 0.0% - igniting concern that prices will fall in the months ahead. This is the lowest inflation rate recorded since 1997. Inflation stood at 0.6% in April, after hitting 4% when energy prices hit record highs. Many analysts now expect
Monday 04 May 2009 European economy 'will shrink 4%'
The economies of the eurozone and the wider EU will shrink by 4% this year, the European Commission forecasts.
Wednesday 22 April 2009 European budget deficits rising
Most European Union countries' budget deficits rose last year, as they spent heavily while tax revenues fell.
Monday 06 April 2009 Eurozone retail sales slump by 4%
Eurozone retail sales have fallen heavily over the past year as high unemployment affects spending power in the region.
Wednesday 04 March 2009 Eurotunnel to pay first dividend
Channel Tunnel operator Eurotunnel will pay a dividend for the first time in its 23-year history.
Monday 02 March 2009 European Union leaders have rejected an appeal for a multi-billion-dollar aid package to east European countries. E.U. leaders met on Sunday in Brussels to discuss the economic crisis affecting Europe. Hungarian Prime Minister Ferenc Gyurcsany warned that the crisis is creating a wider gap between western and eastern members of the 27-member bloc. He called for a fund of up to US$241 billion to help restore solvency in eastern countries. But German Chancellor Angela Merkel and other European Union leaders rejected an overall bailout. They suggested that struggling countries might receive aid on a case-by-case basis. E.U. Commission President Jose Manuel Barroso said that eastern European countries were already getting emergency rescue funds from the E.U., the World Bank and other financial institutions.
Friday 27 February 2009 European Union leaders held a one-day summit in Berlin on Sunday to prepare a common front at the Group of 20 meeting in London in April. The leaders expressed a need for coordinated action to prevent a worsening of the global financial crisis. They decided to double their funding for the International Monetary Fund, and to strengthen the role of an international supervisory group, the Financial Stability Forum. German Chancellor Angela Merkel welcomed leaders from Britain, France, Italy, Spain, the Netherlands, Czech Republic and Luxembourg, as well as the head of the European Commission.
Tuesday 24 February 2009 European industrial output slumps
European industrial orders fell sharply in December, figures show, as factories report a steep drop in demand.
Monday 23 February 2009 EU heads back financial clampdown
Leaders of Europe's biggest economies agree on the need to regulate all financial markets, including hedge funds.
Friday 13 February 2009 Europe hit by economic slowdown
European economies contracted in the fourth quarter of 2008, with some countries registering the worst figures in decades.
Thursday 22 January 2009 BRUSSELS: SEAL HUNT DEFENDED
Canada and Greenland appeared before the European Commission Wednesday to defend their respective seal hunts. The European Union could vote this spring on a proposed ban on all seal products. Garry Stenson of Fisheries and Ocean Canada told the hearing that the hunt is humane, well regulated and sustainable. Greenland Fisheries Minister Finn Karlsen said Greenland's culture and economy are at stake and he could not accept a ban. But, as a video of seal pups being clubbed and skinned played in the background, Rebecca Aldworth, from the Canadian branch of the International Humane Society, urged European legislators in Brussels to stand up and do the right thing. Ottawa has warned a ban could violate trade rules, and threatened action if a ban were introduced.
EUROPE
Russian gas is now reaching its European customers. Russian gas piped via Ukraine was reported to have arrived in Germany, France, Poland, Bosnia, Serbia and Turkey after a two-week interruption that came during a bitter mid-winter cold spell. On Tuesday. Austria, Bulgaria, Croatia, the Czech Republic, Hungary, Slovakia and Slovenia confirmed that gas was flowing again, following settlement of a Russia-Ukraine price and payment dispute.
Friday 16 January 2009 The European Union took another step Thursday to lessen the impact of a deepening recession. The European Central Bank cut its main lending rate for the fourth time, from two-and-a-half per cent to two per cent. Other regions have lowered rates even further. Both the US Federal Reserve Bank and the Bank of Japan recently lowered rates virtually to zero, while last week, the Bank of England cut its rate to one-and-a-half per cent, its lowest level in history.
Monday 05 January 2009 SLOVAKIA
Slovakia has become the 16th European country to adopt the euro as currency. The country adds 5.5 million people to the 330 million people who use the euro. Prime Minister Robert Fico says the adoption of the currency is a continuation of the success story that began with Slovakia entry into the EU in 2004.
2008
Thursday 23 October 2008 The EU has revealed a "Blue Card" scheme aimed at attracting skilled immigrants to fill labour shortages. The plan is intended to make the EU more competitive with the U.S. and other aging Western nations for high-technology and hospital workers from developing countries. Some critics of the idea say it will be ineffective because it allows the immigrant to live in only one EU member state at a time rather than have access to all 27 of them. The U.S. Green Card allows its possessor to work in all of the 50 states. High-skilled foreign workers make up only 1.7 of the EU workforce, compared with 9.9 per cent in Australia, 7.3 per cent in Canada and 3.2 per cent in the U.S.
Thursday 09 October 2008 LUXEMBOURG
The 27 EU nations have taken their first collective step to deal with the financial turmoil by more than doubling the bank deposit guarantees from 20,000 euros to 50,000. The agreement fell short of the 100,000-euro guarantee that had been debated before a meeting of EU finance ministers on Tuesday in Luxembourg, reflecting concerns that Eastern nations would have difficulty ensuring such a high guarantee. The ministers also decided to bail out struggling banks, but reserved the right to dismiss executives who are found to have taken excessive risks or made bad decisions. In another development, the European Central Bank joined with the U.S. Federal Reserve and three other central banks to co-ordinate moves to inject liquidity into the global banking system by the end of the year.
Saturday 20 September 2008 OTTAWA: CANADA, EU TO START TRADE TALKS
Negotiations will begin next month to integrate Canada's economy with the 27 nations of the European Union. Preliminary talks will start at an Oct. 17 summit in Montreal. Canada's Trade Minister Michael Fortier and his staff have been involved in discussions during the past two months with top European officials on Canada's possible economic integration with the European Union. If successful, Canada would be the first developed nation to have open trade relations with the European Union. Currently, the EU has open borders between its members but imposes strict trade and investment barriers on non-members.
Wednesday 16 July 2008 10:34 - The Euro hit a record high against the U.S. dollar, crossing through
US$1.60. (Bloomberg)
Monday 16 June 2008 Eurozone inflation at record 3.7%
Inflation in the eurozone has a climbed to a record level of 3.7% in May amid higher food and fuel costs, figures show The figure is the highest since 1996, when Eurostat started using the current methodology for calculating inflation.
Articles-by-subject alert: Globalisation
From Economist.com, Friday May 30th 2008
The following have been newly published on Economist.com:
Just-in-time enlargement
If the recent entry of 12 new EU members had been delayed much longer, it might never have happened, argues David Rennie. That would have been an historic error ... more
Thursday 29 May 2008 TORONTO: PENSION PLANS EXPAND IN EUROPE
The Canada Pension Plan Investment Board and the Ontario Municipal Employees Retirement System have announced they'll open offices in London. The Ontario Teachers' Pension Plan, the three having more than $280 billion in investment, say London is a good base from which to develop partnerships and to take advantage of the strong euro.
Friday 16 May 2008
Friday 16 May 2008 OTTAWA: EU SAID MISSING CHANCE FOR TRADE DEAL WITH CANADA
Federal Trade Minister David Emerson says the EU is mistaken not to show greater interest in its trade with Canada. He made that evaluation while speaking at a conference on that subject in the capital. Mr. Emerson says there's no reason why the two parties shouldn't eventually conclude a free-trade accord, as the Premier of Quebec, Jean Charest, has been urging for the past two years. In June 2007 during a Canada-EU summit, both sides agreed to conduct a study which will assess the advantages and costs of a closer economic partnership. Canada-EU trade is worth about $110 billion a year.
Mocking British Politics (And Islamic law)
Friday 21 December 2007 Border checks end in new EU states
Poland, Estonia, Lithuania, Latvia, Hungary, Slovenia, Slovakia, the Czech Republic and Malta have joined the European Union's Schengen zone nations within which people can travel without passports. Companies will find it much easier to move their goods within the free trade area, while the external borders are getting tighter security.
Tuesday 30 October 2007 Steel makers press EU for Asian import duties
BRUSSELS–European Union steel makers fired the first shot yesterday in what could be a major trade battle with China by asking Brussels to slap anti-dumping duties on Chinese and other Asian steel exports.
Thursday 07 June 2007 First free-trade deal in 6 years expected11
Ottawa preparing to announce successful conclusion of talks with European Free Trade Association and commence similar negotiations with Peru and Colombia
Giants forced to dance
May 24th 2007 | BERLIN AND LONDON From Economist.com
Turmoil among the corporate champions
Claudio Munoz
AT A time when Europe’s big companies can hold their heads up high, with results comparable to those of America’s corporate giants, comes a crop of boardroom upheavals and struggles for control—a surprising occurrence in the midst of a boom, and one that could mean tougher times ahead.
May 18, 2007 After Samara Expect little from the EU summit with Russia
EU leaders travel to Samara, Russia on May 18th in an attempt to resolve serious differences with Russia across a range of issues. A new EU-Russia treaty has been ruled out; any agreement that does come out of the meeting will be limited; and the best hope is for relations not to deteriorate further. Germany, which as president of the EU will lead discussions, will increasingly face a major foreign policy dilemma of its own: whether to pursue stronger bilateral relations with Russia, or to continue seeking a more complex EU-based policy over the coming years, but risk weakening Germany's own special relationship. The central problem is that the foreign policy outlook of both the EU and Russia has in recent years fundamentally changed, as a result of the accession of new east European members, and the growing assertiveness of energy-rich Russia. As a result, previous policy aimed at drawing Russia into the liberal democratic fold, through a mixture of agreements, concessions and admonishments will no longer be appropriate.
Thursday 22 February 2007ec Turn back, huddled masses
The European Union hopes to stem the immigration tide
Monday 19 February 2007 Economic growth in EU may outstrip U.S.
European Union will grow faster than previously expected this year and may outpace U.S. growth, EU officials forecast
Tuesday 02 January 2007
BRUSSELS, Jan. 1 — Romania and Bulgaria joined the European Union on Monday, helping to end geographic divisions left over from the cold war and extending the borders of the now 27-member bloc eastward to the Black Sea.
In Bucharest, Romania, President Traian Basescu said Sunday night that the entry into the European Union signaled the end of a painful 17-year process. “We arrived in Europe, welcome to Europe,” he said to rapturous applause from a crowd in University Square. “This is an enormous chance for new generations.” W-N
2006
Nov 24, 2006 MW Euro breaks $1.30 for first time since April 2005
LONDON (MarketWatch) -- The euro broke through the $1.30 level on Friday for the first time since April 2005, as the dollar's rapid decline since Wednesday continued. The euro rose to $1.3019 from $1.1948, and the dollar fell to 115.86 yen from 116.27 yen
Monday May 22, 2006 nyt U.S. Is Proposing European Shield for Iran Missiles A new U.S. antimissile site in Europe would be designed to stop attacks by Iran against the United States and its European allies.
Friday May 12, 2006 maisonneuve.orgBOMBS OVER EUROPE The
Citizen and the
Post both lead with reports on Canada’s support for a US-style
missile defence shield over Europe. Two days ago, the European plan to
start discussing ballistic missile defence was unveiled in Brussels
“quietly and with little fanfare.” The CanWest articles (both
by Mike Blanchfield) report that Canada “fully endorsed the
decision” to start political talks on the issue within NATO, noting
the move could be a “major political challenge” for Stephen
Harper, just as the US plan proved to be a hot potato for the previous
government. The system would be “a virtual mirror image of the US
shield for North America,” with ground-based rockets shooting down
hostile missiles outside the atmosphere. Blanchfield emphasizes the tricky
domestic politics at play: Canadian involvement in the new shield could
spark the ire of Quebecers (who were most opposed to the US shield
before)—just the people Harper is trying to court in time for the
next election.
Monday Dec 5, 2005 rci The European Union will make no more concessions to reduce its agricultural tariffs until other countries make significant concessions of their own. The message was delivered by E.U. Trade Commissioner, Peter Mandelson, at the meeting of the Group of Seven finance ministers in London. Canada's finance minister, Ralph Goodale, was among those in attendance. Agricultural subsidies will be a main issue of contention when the World Trade Organization holds an important meeting in Hong Kong later this month. Mr. Mandelson criticized Britain's finance minister, Gordon Brown, for suggesting drastic reforms of Europe's agricultural policy. At the same meeting in London, Brazil and India made an attempt to break the impasse by offering trade concessions on industrial goods and services in return for similar concessions from developed countries.
By Peter van Ham
Think rioting in France and recent rejections of the European Union constitution signal the end of the Europe? Not so. The European Union is still a model citizen, it just does a lousy job of selling itself at home and abroad. It’s time for Brussels to learn its own brand.
Friday Oct 7, 2005 European Central Bank leaves rate steady The European Central Bank held its key interest rate steady at 2 percent on Thursday, despite concerns about Europe's sluggish economy.
Thursday Sep 1, 2005 ec Trade disputes
Chinese-made bras, blouses and T-shirts are piling up at customs checkpoints across Europe, having already bumped up against import limits set earlier this year. The European Union has sent a team of officials to Beijing to negotiate a way out of the crisis. But European retailers are just as annoyed at the quotas as the Chinese Full article
Affordable Europe: City Guides April 22, 2007
Andy Nulman 
BBC
Down a gear Nov 14th 2006 
Stephen S. Poloz
Haughty indifference, or masterly inactivity? Jul 14th 2005 
Europe’s new divisions Nov 25th 2004 
Affordable Europe nyt April 23, 2006 ;){kind=link}